Ron Conway Hints that Twitter Will Soon Sell Tickets for Music Concerts

[ SV Angel investor Ron Conway. Image courtesy of Kevin Krejci via creative commons license. ]

Twitter might soon become a one-stop shop for artist promotion, fan engagement and concert ticket sales.

Yesterday at the Billboard FutureSound conference, long-time Twitter investor Ron Conway hinted that ticket-buying would be coming to Twitter soon.

Conway called Twitter a "greenfield" waiting to be colonized by music tech companies facilitating live ticket sales, tour information and merchandise sales. He also told the story of what happened when he and MC Hammer visited Twitter several years ago. Hammer described how artists could build their audience, advertise concerts and also sell tickets through Twitter.

LAUNCH has contacted Conway and Twitter and will update this story if we receive a response.

If Twitter starts selling tickets, does that mean we'll start seeing ticket offers right in our stream or will Twitter add an additional tab for music? We wonder if Twitter would create its own payment platform or if they would make a deal with ticket distributors such as Ticketmaster, and Groovetickets.

Conway also discussed how startups should let major labels take 2% equity stakes in exchange for licensing their content. That way, labels and startups will share the same interests.

"Success breeds success...," Conway said at the conference in regards to Google's recent entry into the digital music business. "There's a lot of optimism that you can build billion-dollar industries by selling music digitally only.

Back in April, Snoop Dogg, who has 5M+ followers, called Twitter the "number one" tool for musicians.
“Having a relationship with fans where it’s not based on your record label, its based on you," Snoop Dogg said. "When you are tweeting, it’s not about what label you’re on, it’s about you dealing with your fans directly.”
Other artists on Twitter  include Justin Timberlake with 6.8M+ followers, Justin Bieber with 14.6M+ followers, Wiz Khalifa with 3.6M+ followers, and Kanye West with 5M+ followers.
Those artists, however, can also find value on Facebook. In November, Digital Music News reported that every concert link shared on Facebook generates at least $2 in ticketing revenue. Additionally, users have shared 1.5B songs on the platform since Facebook launched the Open Graph at f8, meaning even more exposure for certain artists.
Also, with Google+ now integrating Google Music into the network, it will be interesting to see which social network will emerge as the most valuable platform for artist promotion.
Twitter, which is currently valued at $8B, has raised $1.16B in funding to date from investors such as DST Global, Ron Conway, Chris Sacca, Union Square Ventures and Kevin Rose.

Evan Williams, Jack Dorsey and Biz Stone founded San Francisco-based Twitter in 2006. As of October, Twitter CEO Dick Costolo reported that the service processes 250M tweets per day and had 100M+ global active monthly users.